I like your thinking and Agree. Makes lots of sense, in particular the $$$$$$ side of it.
Lets face it Santos know their stuff when it comes to getting the job done and delivering gas to market.
We have obtained and gained what appears to be excellent ground and a very financially strong and willing partner to develop the gas province with as well and the Qld Govt wants this pushed to the limit.
Arcadia Gas Field not all that far from us and has 137 wells producing and took a 13 well pilot program to make it all happen.
Hey our new partner ticks all the boxes to get the GAS back on track.
Its bloody great news for GAS SH and the largest SH of GAS in the form of TEG (and don't we need any form good news).
"extract more gas for less money"
GO GAS
GO TEG
MAY 2018
Santos and our GLNG Partners will invest more than A$400 million in the 137-well Arcadia gas project in the Bowen Basin in Queensland’s Central Highlands region.
Chief Executive Officer Kevin Gallagher said, “The Arcadia gas project will create up to 300 construction jobs and local business opportunities in the Central Highlands region, helping to sustain and boost the benefits of Santos’ and GLNG’s earlier investments.”
The project, located near Injune, about 680km northwest of Brisbane, will involve drilling 137 new wells and constructing a 140 km gas and water gathering network, two 4G communication towers, a new compression station, a 4 ML per day water treatment plant, a 5 MW gas-fired power station, and associated roads and infrastructure.
Mr Gallagher said the decision to sanction the project follows a very successful 13-well pilot program which tested changes to the planned well design and operating philosophy.“We have reduced our connected well costs in Queensland by more than 70 per cent since 2015 to become Australia’s lowest cost onshore operator,” Mr Gallagher said.
“If you want to put downward pressure on gas prices, reducing the cost of supply is a good place to start.
“Santos will apply our low cost operating model, and a well design and water management approach tailored for the Arcadia field, to extract more gas for less money.
